Eni and Snam said the European Commission selected the project; its development plan targets 4 million tonnes of CO₂ storage a year by 2030.
Eni and Snam said on 20 October that the European Commission selected Ravenna CCS Phase 2 under the 2025 Net-Zero Technologies call of the EU Innovation Fund. The announcement confirms selection, not a completed grant payment.
The development plan targets storage capacity of 4 million tonnes of CO₂ per year by 2030, with a possible later increase to 16 million tonnes annually. The companies gave no award amount in the announcement.
The European Commission decision concerns capacity-allocation rules at two entry points and took effect on 5 August 2026.
Start-up procedures are under way; the project is designed to recover associated gas previously flared and supply the domestic market.
The Western Desert development is designed to process up to 100 million standard cubic feet of gas per day; start-up activity does not mean full production.
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